Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

Lupus Capital plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation:

Aviva plc & its subsidiaries

4. Full name of shareholder(s)  (if different from 3.):

Registered Holder:

BNY (Nominees) Limited 125,499*

BNY Norwich Union Nominees Limited 1,993,254*

Chase (GA Group) Nominees Limited 11,376,804*

Chase Nominees Limited 311,017*

Vidacos Nominees Limited 93,737*

*denotes direct interest

Chase Nominees Limited 266,744

5. Date of the transaction and date onwhich the threshold is crossed orreached:

05 December 2012

6. Date on which issuer notified:

06 December 2012

7. Threshold(s) that is/are crossed orreached:

11% to 10% Change at Combined Interest Level

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary SharesGB00B29H4253

14,524,926

14,524,926

14,167,055

13,900,311

266,744

10.72%

0.21%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights  

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

14,167,055

10.93%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

The voting rights are managed and controlled by Aviva Investors Global Services Limited, with the following chain of controlled undertakings:-

Aviva Investors Global Services Limited:

·; Aviva plc (Parent Company)

·; Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·; Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·; Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited)

Proxy Voting:

10. Name of the proxy holder:

See Section 4

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Figures are based on a total number of voting rights of 129,668,337, as per the Company's Securities in Issue as at 20 April 2012, disclosed in accordance with Rule 26 of the AIM Rules

14. Contact name:

 Diane Thirkettle, Aviva plc

15. Contact telephone number:

01603 687803